How corporations can sue Governments. (ISDS and LCIA) I recently went on a live chat with a UK Government representative as part of a FOI request, my question was do UK SEZs and Freeports licenses contain ISDS clauses within them? He couldn't answer my question. - ThreadSky

europeanpowell.bsky.social • 28 days ago

How corporations can sue Governments. (ISDS and LCIA)

I recently went on a live chat with a UK Government representative as part of a FOI request, my question was do UK SEZs and Freeports licenses contain ISDS clauses within them? He couldn't answer my question.

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hoojo.bsky.social•27 days ago

Trump campaigned on a ticket to build 10 new Freedom/Charter cities. His 2nd presidency is likely to add fuel to the fire of supporters, at home & abroad, who are enthused by this ideas. One wonders if it isn't part of Trumps personal real-estate interest in Gaza

https://www.tandfonline.com/doi/full/10.1080/02723638.2023.2263121#d1e119

europeanpowell.bsky.social•28 days ago

ISDS means corporations can bypass domestic courts and sue Govt’s for breach of contract, entailing a complete free pass to ignore a host country's sovereignty.

europeanpowell.bsky.social•28 days ago

Countries that have signed up to ISDS in trade deals effectively sell their sovereignty to corporations, meaning the host country's Govt cannot regulate on matters such as public health, environmental protection, and human rights.

europeanpowell.bsky.social•28 days ago

ISDS is a secret corporate justice court set up in 1966 by The World Bank. The ISDS committee has three arbitrators, none of whom have a law degree.
As of June 2024, over $113 billion has been paid by states to investors under ISDS, the vast majority of the money going to fossil fuel interests.

europeanpowell.bsky.social•28 days ago

It wouldn't make neoliberal economic sense if the UK's 86 free zones didn't have ISDS/LCIA built-in to them given the absolute corruption present in the UK's private sector+the global patterns of deregulated SEZs being corporate playgrounds for oligarchs, libertarians, and disaster capitalists alike

europeanpowell.bsky.social•28 days ago

Well guess what? There is an equivalent ISDS mechanism embedded in the UK’s SEZs, it’s called the London Court OF International Arbitration (LCIA).

europeanpowell.bsky.social•28 days ago

From LCIA’s website 19.4 All hearings shall be held in private, unless the parties agree otherwise in writing. The international nature of the LCIA’s services is reflected in the fact that, typically, over 80% of parties in pending LCIA cases are not of English nationality.

alastairh4h.bsky.social•27 days ago

Couldn’t or wouldn’t?

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